Femi Ashekun/
Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), or petrol, from N950 to N890 per liter, effective Saturday, February 1, 2025.
This decision, described as a “strategic adjustment” in a statement signed by Anthony Chiejina, Group Chief Branding and Communications Officer, follows the recent drop in international crude oil prices.
“This price reduction reflects the ongoing fluctuations in global crude oil markets,” the statement read, adding that it aligns with the refinery’s commitment to “transparency and fairness.”
The company emphasised that the move would have a broad economic impact, lowering fuel costs nationwide and reducing the prices of goods and services.
“This reduction will result in a meaningful decrease in the cost of living, with a positive ripple effect on various sectors of the economy,” the statement continued.
Dangote Refinery also called on fuel marketers to collaborate in passing on the benefits to consumers.
“We urge marketers to join this effort to ensure Nigerians fully benefit from this initiative,” the company said.
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